MAM
Verizon appoints Chris Formant to lead enterprise business
MUMBAI – Verizon Enterprise Solutions has found a new president in Christopher Formant. The appointment was announced by Verizon executive vice president and president of the company’s wireline organization John Stratton.
In his role, Formant will be responsible for delivering business solutions to Verizon’s global enterprise clients in key industries: healthcare and insurance; financial services; technology; manufacturing, distribution, automotive and distribution; retail; energy and utilities; and the public sector. He will also lead a team driving sales, operations and marketing of the company’s strategic solutions in intelligent networking, dynamic cloud, mobile workforce, connected machines, security and professional service engagements.
Formant’s background combines a unique blend of enterprise, early-stage company and global-business consulting experience. He was most recently senior vice president and president of Avaya Government Solutions and Avaya Professional Services. At Avaya, he was also president of Global Services, where he led a major business turnaround while significantly improving customer satisfaction and loyalty.
Stratton said, “Chris has the expertise and marketplace know-how to ensure Verizon brings enterprise-class value to the world’s leading companies. His dynamic approach to matching technology solutions to business problems will be a great asset to Verizon clients everywhere they do business: throughout the U.S., Europe, Asia and Latin America.”
In addition to his leadership roles at Avaya, Formant has held executive positions at PricewaterhouseCoopers and MBNA, as well as serving as adviser/investor to early-stage technology companies. He has been named as one of the Top 25 Most Influential Consultants by Consulting Magazine. Formant received his Bachelor of Science degree from Washington and Lee University and a Master of Business Administration from George Washington University.
Verizon Enterprise Solutions is a leading provider of advanced IT and communications services to enterprise and governments around the world.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
